Precise Mortgages has made major changes to its second charge product range.
It has introduced a preferred panel of master brokers who will have exclusive access to this new range and also improved its lending criteria.
Precise’s product fee has been reduced to £495 from £995, while prime rates have been cut by up to 2.25 percentage points per annum and now start from 4.45% plus BBR pa.
Near prime rates have been reduced by up to 3.25 percentage points and now start from 5.45% plus BBR pa.
The preferred panel of master brokers who have access to these exclusive products are:
- · Brightstar Financial
- · Colonial
- · Enterprise Finance
- · Fluent Money
- · Norton Finance
- · Positive Lending
- · Promise Solutions
- · The Loans Engine
- · The Lending Wizard
- · Loans Warehouse
- · V Loans
- · Y3S Loans
Simon Carr, director of second charge lending for Precise Mortgages, added: “Second charge loans are now regulated by the FCA and we are not only leading the way on responsible lending but also launching market leading products so that brokers can offer their clients an even better solution.”
Steve Walker, director of Promise Solutions, added: “The latest products really tick the boxes for brokers, networks and consumers and offer a market leading combination of rates, low fees and choices of tracker or fixed rates.
“As brokers and networks align their loan sales process closer to how mortgages are sold, loans from Precise Mortgages will be the natural choice in most cases, especially as the new criteria will result in significantly more clients qualifying for the excellent rates on offer.”